In 2014, the global methionine market was worth USD 3.54 billion. The market will continue to be driven by the increasing meat consumption in Asia Pacific and Latin America. The global meat industry has seen a rise in population from these areas.
The key driver of product demand is likely to be rising meat consumption around the globe as a source for protein. China and India are experiencing high meat consumption due to changing food habits, the emergence of frozen beef and other meat products, as well as establishment of meat outlets. This will increase demand for feed additives.
In order to increase the nutritional value of livestock feed, manufacturers have been incorporating animal feed additives like methionine due to recent animal disease outbreaks. Increasing consumer awareness about the health of livestock has led to increased product usage.
Supplements containing methionine are a common use of the ingredient. The future is expected to see a rise in demand for dietary supplements, driven by growing interest and avoiding healthcare costs. The dietary supplement market will be driven by rising obesity rates in the U.S., U.K. and Canada.
It is expected that the methionine demand will rise in the future due to rising consumption of supplements. To enhance performance, athletes and bodybuilders primarily consume sports supplements. High health benefits and increased consumer awareness are driving widespread acceptance of supplements such as nutrition drinks , weight loss pills, nutritional supplements, weight reduction meals, low carbohydrate food, and nutrition bars.
Market growth will be fueled by expanding application opportunities in the medical and pharmaceutical sectors. It is used extensively in pharmaceutical applications as well as as an intermediate in the production of vitamin-related medicines.
Due to the inability of raw materials over the past few years, Methionine prices have seen a significant rise. A shortage of raw material is also a problem for short-term reasons, such as rising energy prices. Over the forecast period, industry participants will be able to reap the rewards of a growing cosmetics industry.
The largest market segment was the plant-based raw material, with a valuation exceeding USD 3.0 billion in 2014. Methionine production is mainly done using wheat, soybean meal, seaweed, and other raw materials like soybean meal. The market is expected to grow due to rising environmental awareness and increasing consumer preference for biobased products over the forecast period.
Research has shown that methionine levels in the blood of vegetarians are higher than those of non-vegetarians. This is based on a variety of research.
In 2014, animal-based methionine represented more than 10.0% of total market. This segment is expected to grow at a CAGR of over 4.0% between 2015 and 2022. Industry participants will be challenged by strict government regulations that prohibit the use of bone meal and fish meals for developing amino acids.
The largest segment of methionine markets was animal feed, accounting for more than 90% of total volume in 2014. The market is expected to grow due to the rising demand for animal feed additives and the increasing consumption of meat.
The animal feed industry has seen a shift in the last few years due to advances in animal nutrition. Numerous companies have invested substantial amounts to create high-quality feeds. Animal nutrition experts have found that animals can't eat only crude protein. Therefore, it is crucial to provide them with essential amino acids. Animal feed containing methionine boosts growth and decreases nitrogen emissions.
In 2014, the food and dietary supplement segment was worth more than USD 200.0 million. Product demand is expected to rise due to rising health awareness and increasing disposable income in developing countries like Asia Pacific and Latin America. Segment growth is also expected to be supported by a growing demand for energy drinks, especially in the U.S.A and U.K.
Over the forecast period, the pharmaceutical market is expected to expand at a significant rate. Methionine will be in demand for pharmaceutical applications due to stricter regulations and improved health standards.
Asia Pacific dominated the global market in 2014, with a value of more than USD 1.0 billion. Due to rising meat consumption in China and India, Vietnam, Vietnam, and the Philippines, this region will see significant growth. In the next few years, product demand will be driven by rising disposable income and changing food habits.
Europe accounted to more than 20% of total demand in 2014. The U.K., Germany and other European countries are expected to be the leading contributors. The region's key drivers are expected to be the growing demand for dietary supplements as well as the growing number of elderly people.
North America will experience a 5.8% CAGR between 2015 and 2022, according to estimates. The region's growing obesity rate and high prevalence of cardiovascular diseases (CVDs) is expected to drive demand for dietary supplement products. Increasing livestock production and the booming pharmaceutical industry will fuel Central and South America's market.
The growing dependence on animal-based diets is driving the growth of methionine market in advanced economies like the U.S., Canada, Germany and Canada. These countries have a preference for high-protein diets and rely more on non-vegetarian food options than on plant-based foods. This has resulted in an increase in methionine consumption in North America and Europe.
Global market is highly concentrated and is dominated by large multinational corporations. This trend is expected continue for the next few years. Adisseo France SAS, Novus International, Inc., Evonik Industries AG, and Sumitomo Chemo Company are key players in this market.
Kemin Europa, Sunrise Nutrachem Group; Shaanxi Shichar Hi-tech Industries Co. Ltd.; Kyowa Haiko Bio are other notable companies. Co., Ltd.
b. Global methionine market was valued at USD 5.64 billion in 2019, and is projected to grow to USD 6.13 billion by 2020.
What is the growth rate of methionine?b. Global methionine markets are expected to expand at a compound annual rate of 9.3% between 2015 and 2022, to reach USD 7.27 Billion by 2022.
Which market segment had the largest share of methionine?b. Asia Pacific was the dominant market for methionine in 2019, with a 32.5% share. This can be attributed to growing healthcare awareness, cloud-based technology acceptance, and ongoing research and development initiatives.
What are the main players in the methionine marketb. Kemin Europa, Sunrise Nutrachem Group, Shaanxi Hi-tech Industries Co. Ltd. and Kyowa Hakko bio are some of the key players in the methionine industry. Co., Ltd., Royal DSM, Ajinomoto Inc., CJ Cheil Jedang Corp., Prinova U.S. LLC, AnaSpec Inc., Tocris Bioscience Ltd., Tokyo Chemical Industry Co. Ltd., Beijing FortuneStar S&T Development Co., Ltd., Iris Biotech GmbH, and Jinzhou Jirong Amino Acid Co., Ltd.
What are the main factors that drive the methionine industry?b. The market is driven by rising population and increasing meat consumption, especially in Asia Pacific and Latin America.
Up Market Research published a new report titled “Methionine Market research report which is segmented by Raw Material (Animal-based, Plant-based), by Application (Pharmaceuticals, Food & Dietary Supplements, Animal Feed), By Players/Companies Adisseo France SAS; Novus International, Inc; Evonik Industries AG; and Sumitomo Chemical Company”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Methionine Market Research Report |
By Raw Material | Animal-based, Plant-based |
By Application | Pharmaceuticals, Food & Dietary Supplements, Animal Feed |
By Companies | Adisseo France SAS; Novus International, Inc; Evonik Industries AG; and Sumitomo Chemical Company |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 221 |
Number of Tables & Figures | 155 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Raw Material (Animal-based, Plant-based), by Application (Pharmaceuticals, Food & Dietary Supplements, Animal Feed).
Methionine Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Methionine Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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